TITLE

B&M's stringent rules force partner to quit Draxis board

AUTHOR(S)
Hoare, Steve
PUB. DATE
January 2005
SOURCE
Lawyer;1/17/2005, Vol. 19 Issue 2, p2
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that Baker & McKenzie partner Stewart Saxe has been forced to resign from his position on the board of Canadian pharmaceutical company Draxis Health Inc. after B&M tightened its corporate governance rules. Since long before most lawyers had even heard of messrs Sarbanes and Oxley, the firm has had a rule in place that required its lawyers to seek consent from the firm's professional responsibility and practice committee in order to sit on the board of a for-profit company. Now that rule has hardened and directorships are no longer tolerated.
ACCESSION #
15824390

 

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